April

Standard

Andy

Virtu

Standard Chartered, Virtu Financial, and ABN AMRO Clearing have been announced as strategic partners of Global Futures and Options Ltd. (GFO-X), a U.K.-based crypto derivatives platform.
On Dec. 9, GFO-X announced that the three firms, alongside market maker IMC, are among the top financial industry players to join the U.K. regulated platform. GFO-X revealed the partnership via a <a href="https://www.globenewswire.com/news-release/2024/12/09/2993753/0/en/GFO-X-Announces-ABN-AMRO-Clearing-IMC-Standard-Chartered-Bank-and-Virtu-Financial-as-Strategic-Partners-Ahead-of-Launch-in-Q1-2025.html" target="_blank" rel="noopener noreferrer nofollow">press release</a>, adding that the crypto-focused derivatives trading venue will officially launch in the first quarter of 2025.
The platform has collaborated with the companies to meet the requirements for offering Bitcoin (<a rel="noopener noreferrer nofollow" href="https://crypto.news/price/bitcoin/">BTC</a>) index futures and options to institutional investors. The products will leverage the financial market infrastructure of London-based clearing services firm LCH SA’s DigitalAssetsClear.
Read more: <a rel="noopener noreferrer nofollow" href="https://crypto.news/standard-chartered-backed-zodia-custody-aims-to-raise-50m-in-funding-round/"> Standard Chartered-backed Zodia Custody aims to raise $50m in funding round </a>
LCH SA’s majority owner is the London Stock Exchange Group and offers the infrastructure for cash-settling GFO-X’ derivatives trades.
Andy Ross, global head, prime &amp; financing, at Standard Chartered, commented:
<blockquote class="wp-block-quote is-layout-flow wp-block-quote-is-layout-flow">
 “We’re delighted to support the launch of GFO-X derivatives and to join LCH SA as a general clearing member to enable our clients to trade and clear.”
</blockquote>
LCH SA received regulatory nod to offer clearing services for BTC index futures in April 2024, with this coming nearly a year after the platform announced plans to extend central clearing services for GFO-X. The LCH DigitalAssetClear operates a separate fund and works within the guidelines of dedicated clearing requirements.
M&amp;G Investments backs GFO-X and received regulatory approval from the Financial Conduct Authority in 2022.&nbsp;&nbsp;
The launch of the new derivatives trading platform comes as the crypto market attracts greater attention across the world. Bitcoin, which has traded to highs above $103k, has gained momentum following Donald Trump’s win in November’s presidential election.
In October, crypto exchange OKX <a rel="noopener noreferrer nofollow" href="https://crypto.news/okx-taps-standard-chartered-as-crypto-custodian-for-institutional-clients/">selected Standard Chartered</a> as its crypto custodian. Earlier in August, Standard Chartered’s digital bank Mox Bank <a rel="noopener noreferrer nofollow" href="https://crypto.news/standard-chartered-incubated-digital-bank-mox-bank-debuts-crypto-etfs-for-retail-investors/">launched</a> the first spot crypto exchange-traded funds by a virtual bank. The ETF products targeted retail investors in Hong Kong.
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Standard Chartered, Virtu Financial join new U.K. crypto derivatives platform

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